Paint Remover Market Expected to Reach $1.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Paint Remover Market," The paint remover market was valued at $1.0 billion in 2022, and is estimated to reach $1.5 billion billion by 2032, growing at a CAGR of 4.6% from 2022 to 2032.

A chemical compound called paint remover  is used to remove color pigments, finishes, and coatings while also cleaning the surface underneath by entering its layers to break its connection by swelling it to increase its volume and reduce its adherence. Due to its advantages, such as its ability to operate in a matter of minutes, it is used for coating a variety of items, including furniture, cars, and structures. Thick layering of different varieties effectively works for both horizontal and vertical surfaces, making it more applicable.

Paint remover clears the area of waste and particles, which makes working further over the surface easier and simpler. It also removes things, such as dust, dirt, damaged surfaces, breaking paint coats, and stained and smudged surfaces, which are a  huge impediment before a fresh layer is applied giving the region a smooth and flawless finish with no change in texture and color of applied coating. Additionally, it is more widely available, has a greater capacity to completely remove many coatings, and works with a variety of paint types, including lead- and water-based paints, which increases their demand.

Furthermore, solvent-based paint removers are a type of paint remover that uses organic solvents as the main active ingredient. These solvents are effective at breaking down and dissolving paint or varnish, allowing for its removal from surfaces. Solvent paint removers typically contain chemicals such as methylene chloride (dichloromethane), toluene, acetone, or N-methyl pyrrolidone (NMP). These solvents have strong chemical properties that can penetrate and soften paint layers, making it easier to scrape or wash away.

Solvent paint removers are known for their high effectiveness in removing multiple layers of paint, tough finishes, or stubborn coatings. They can penetrate deep into the paint film, even when it is thick or old. Solvent removers often work relatively quickly, allowing for efficient paint removal. The specific duration needed for the product to soften the paint will depend on factors such as the type and thickness of the paint, as well as the specific formulation of the solvent remover.

In addition, increase in demand for paint removers for automobiles is attributed to their ability to remove and repair rust, a common issue with metal items. It can also be resprayed frequently with convenience to ensure continued protection. Furthermore, rising applications of the commodity in building constructions, vehicles, and furniture is a key factor driving market revenue growth.

However, paint removers can sometimes be more expensive than alternative methods of paint removal. The cost of purchasing paint removers, especially high-quality or specialty formulations, can be a deterrent for cost-conscious consumers or businesses. The price sensitivity of buyers can impact the demand and growth of the paint remover market.

Increased investments in construction and infrastructure

Increased investments in construction and infrastructure projects can indeed contribute to the growth of the paint remover market. Construction and infrastructure projects often involve the application of new paint or coatings on various surfaces. Before applying fresh coatings, it is essential to prepare the surfaces by removing old or deteriorated paint layers. Paint removers are commonly used for surface preparation in such projects, ensuring a clean and smooth surface for the application of new coatings.

Increased investments in construction and infrastructure lead to more surface preparation requirements, thereby driving the demand for paint removers. Investments in construction and infrastructure result in an overall increase in construction projects. This includes residential, commercial, industrial, and public infrastructure projects. Each project may involve multiple surfaces that require paint removal, such as walls, floors, ceilings, structural elements, or equipment. The growing number of construction projects creates a higher demand for paint removers.

The paint remover market is segmented on the basis of type, application, and region. By type, the market is classified into solvent, caustic, acidic, and others. By application, the market is fragmented into vehicle maintenance, industrial repair, building renovation, furniture refinishing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By type, the solvent segment dominated the global paint remover market in 2022. The solvent paint remover market has been influenced by factors such as construction and renovation activities, industrial maintenance, and consumer demand for DIY projects. While the other segment is expected to grow at the highest CAGR of 5.1% during the forecast period.

By application, the industrial repair segment is dominated the global paint remover market in 2022 and it is expected to grow at the highest CAGR of 4.9% during the forecast period owing to increase in demand of paint remover in aerospace and marine industry.

By region, North America region is dominated the global paint remover market in 2022 owing to presence of well-established aerospace and marine industries. While Asia-Pacific region is anticipated to experience rapid growth in the paint remover market during the forecast period.

The major players operating in the industry include Asian paints, Nippon Paint Holdings Co., Ltd., Henkel AG & Co. KGaA, Fiberlock, PPG Industries, Inc., Akzo Nobel N.V., Franmar, United Gilsonite Laboratories, EZ Strip Inc., and Sunnyside. These players have adopted product launch as their key strategy to increase their market shares.

Key Findings of the Study

• On the basis of type, the solvent segment dominated the global paint remover market in 2022 while the other segment is expected to grow at the highest CAGR of 5.1% during the forecast period.
• Based on application, the industrial repair segment is dominated the global paint remover market in 2022 and it is expected to grow at the highest CAGR of 4.9% during the forecast period.
• Based on the region, North America region is dominated the global paint remover market in 2022, while Asia-Pacifc region is expected to grow at the highest CAGR during the forecast period.